Helicopter Money is here in Hong Kong? Well…
“The money helicopter has arrived,” Claire Jones writes in her FT Alphaville post, citing Hong Kong Finance Secretary’s announcement of a handout of HKD...
How many US Public Debts out there? Who own them?
According to the data shown in the Congressional Budget Office‘s latest The Budget and Economic Outlook: From 2019 to 2029, there are $15.8 trillion US federal debt held by the public at the end of 2018.
Currency Zones through the last 50 years
The figure above is from a recent BIS working paper "A key currency view of global imbalances". It shows the currency geography as of four dates from the last days of Bretton Woods until now: 1968, 1985, 2001 and 2017.
100% Reserve System is coming? – The Swiss Sovereign Money Referendum
The Swiss sovereign-money referendum, also known as the Sovereign-Money Initiative, which aims to creates a safe and crisis-free, yet experimental, banking system in Switzerland will be held on 10th June.
The Fed’s ‘leaky ceiling’ problem
Why is the Fed's SRF failing? Top Fed officials called the issue a "leaky ceiling" that doomed Quantitative Tightening (QT). Learn how low bank participation and the leaky floor analogy suggest new policy changes.
The Rise of Non-Bank US Dollar Credit Continues
The latest BIS global liquidity indicators showed that the share of Non-bank USD denominated credit continued its rising trend.
‘Unusually low’ Hong Kong interest rate is a policy choice*
A careful study of Hong Kong's currency peg that explain why the current low-interest rate environment can be interpreted as a result of the Hong Kong Monetary Authority's policy choice.
Germany’s GDP Data might have been Distorted by Questionable Data
Germany's GDP data for 2018 might have been distorted by some questionable data provided by the pharmaceutical manufacturing industry.
US Trade Deficit Stabilizes as Post-Tariff ‘Front-Loading’ Fades
US trade deficit rebounded to USD 56.8 billion in November after recording a USD 29.2 billion shortfall, the smallest monthly since 2009, in the previous month, the US Census Bureau reported Thursday.
US payroll growth in Jan beats expectations
US nonfarm payroll increased 353,000 and Unemployment rate as 3.7% in January
OECD governments borrowing expected to hit record $11tn
Gross borrowing of OECD governments from the markets is set to surpass $11tn this year. This would be a new record, above the current record of $10.9 trillion set in 2010.
Japan exports (Dec 2018) recorded largest fall in two year
Japanese exports record a year-on-year drop of 3.8% in December 2018, the most substantial shrinkage since October 2016.
US nonfarm payroll beats expectations in June amid signs of cooling off
US nonfarm payroll increased by 206,000 in June, beating market expectation of 190,000, amid signs that job growth in cooling off as the the Bureau of Labor Statistics revised down the May and April by a combined 111,000 in its report released Friday.
Fed to let Bank Term Funding Program expires on March 11
The US central bank also made an adjustment of the program's terms, setting minimum interest rate level at the interest of reserve balance, effective immediately, to block an arbitrage opportunity that banks have been taking advantage of.
Most of China’s Foreign Currency Credit are in USD
According to the data from BIS global liquidity indicators, as of September 2018, most foreign currency credits to China is still denominated with US dollar.
Americans have not been this optimistic about their financial situation — for the last...
69% of American is financially optimistic, reaching the highest level for the last 16 years.
Japan’s Inflation Rate is still Far From BOJ’s 2 Percent Target
Japan's core inflation rate was on 0.7 percent in February, remaining distant from the Bank of Japan's 2 percent target.
Signs of Eurozone Recession is More Apparent
The latest Purchasing Manager Index (PMI) for the two largest economies, Germany and France, is showing a clear sign of looming recession.
Bank of England will likely retire Fan chart, Andrew Bailey says
Bank of England's Fan charts would probably be replaced by "alternative scenario" projections, which illustrate how policy might react under different economic developments.
If the Fed ends QT too soon, it risks discrediting its ceiling tools
Analysts are expecting the Federal Reserve to announce the end of quantitative tightening (QT) at the upcoming meeting this week. The speculation is fueled by Chairman Jerome Powell's speech earlier this month in which he mentioned the supply of reserves may reach an "ample" level "in coming months."
Canada unemployment rate rises to 5.8% as labor force continues to grow
Statistic Canada on Friday reported that Canada's unemployment rate rose to 5.8%,, reaching the highest since the start of 2022.
How will the shutdown impact GDP growth?
The effect is shown differently on nominal and real GDP
US PCE inflation drops to 2.5% as disinflationary trend continues
Inflation in the US cooled off further to 2.5% over the year to the end of June, according to the latest reading of US Bureau of Economic Analysis's PCE price index.
How often companies in Eurozone change their prices?
An ECB survey found that the retailers review and change their prices most often, while consumer and business service firms adjust their pricing the least often. Firms in the manufacturing sector, meanwhile, have a price adjustment frequency somewhere in between the above sectors
Canada inflation drops back to 2.7% in June
Annual inflation rate in Canada eased back to less than 2.7% in June after a upshot in the previous month, according to Statistics Canada's CPI report.
US Job openings increases to 8.1 million in May, JOLT report shows
Job openings increased to 8.14 million in May while the number of hirings in the month was 5.78 million
Derivatives’s Credit Terms in Eurozone Tighten Further
The latest SESFOD shows that the credit terms offered to counterparties for both securities financing and OTC derivative transactions is further tightened.
US initial jobless claims falls to 233,000, lower than expected
The number of people filed their initial claim for unemployment insurance benefits in the US fell to 233,000 in the week ending August 3.
US PCE inflation holds at 2.7% in April as market expected
US PCE inflation held at 2.7% YoY in April 2024 while core inflation maintained its pace at 2.8% for the third months,
US CPI shows zero inflation in May
US CPI grew 0% in May as the yearly growth rate dropped to 3.27%; core inflation, which stripped out food and energy prices, rose 0.2% and the yearly rate decreased to 3.42%
Will QT finish before Powell’s chairman term ends?
Quantitative tightening (QT) may reach its end point "in the coming months," said Federal Reserve Chairman Jerome Powell in a speech last week.
What does it mean? Will QT finish before Powell's chairman term ends?
US PCE price index shows zero monthly inflation in May
US PCE price index showed 0% monthly inflation in May, bolstering market narrative that consumption sentiment has weakened in Q2 and helped easing inflationary pressure in the US economy.
Canada GDP shrinks 0.4% in Q2, is it all gloomy?
Canada's GDP contracted by 0.4% (or 1.6% annualized) over the second quarter, amid a 7.5% (26.7% annualized) drop in exports as the impact of US-imposed tariffs started to bite.
US CPI down to 2.9% in July as disinflation continues
US headline CPI down to 2.9% in July, lowest since March 2021
US labor market cools down further with job openings, hires, quits all drop in...
The March US job opening and labor turnover (JOLT) report shows that job opening rate, hire rate and quit rate all dropped marginally in March, showing further cool down in the US labor market.
Canada inflation rebounds to 2.9% in May
CPI inflation in Canada rebounded to 2.9% YoY and 0.31% MoM in May 2024
First sighting of Trump II tariff revenue surge
The US government on April 22 received USD 11.7 billion from customer duties in a single day, the first time we can observe a substantial increase in import duties revenue resulted from the new of tariff from the second Trump administration.
US April Jobs Report – Unemployment rate rises back to 3.9% as Nonfarm Payroll...
Nonfarm payroll increased 175,000 in April, a significant reduction from 315,000 in March and fell short of the market expectation of 243,000. Meanwhile, US unemployment rebounded to 3.9%
US goods trade deficit hits all-time high in 2025—What does it mean for Q4...
US trade deficit continues to widen in December after hitting recent year low in October. The total import was USD 70.3 billion higher than export in the last month of 2025, according to the US Census Bureau.
ECB on impact of Coronavirus
Luis de Guindos, vice president of the European Central Bank, depicted the coronavirus as an additional " layer of uncertainty to global and euro area growth prospects," in his speech at the European Economics and Financial Centre on March 3.
Some Bank of Canada officials worried half point cut might signal economic trouble
Some Bank of Canada officials expressed worries during the last policy meeting that an "unusual" 50-basis-point might be "interpreted as a sign of economic trouble" and led to expectations of further outsized cuts, the meeting deliberations summary shows.
Should Federal Reserve use scenario analysis to handle trade war uncertainty?
The Fed is currently in a "wait and see" mode in deciding what is the reaction to Trump's trade policy. But is it possible for the Fed to be a bit more proactive than merely saying "we will be able to update you further when we know more details"?
Enters scenario analysis.
Canada unemployment rate surges to 7.1% in Aug
The unemployment rate in Canada has risen to 7.1% in August, the highest level since May 2016 outside of the pandemic era, StatCan reported Friday.
US gains 272,000 jobs in May, blows past expectations
US gained 272,000 nonfarm employment in May blew past market expectations of an 185,000 increase. Meanwhile, unemployment rate rose to 4%, which is the highest level since November 2021.
UK inflation remains above 10% as food prices continues rapid rise
The UK CPI rose 10.1% in the year to March, still remain in double digits even though analysts expected the annual rate to fall to 9.8%
US gains 339,000 jobs while unemployment rate rises to 3.7%
Employers in the US added 339,000 jobs in May, but at the same time 440,000 more people reported they were unemployed
UK inflation cools to 3.4% amid service inflation slowdown
Core inflation also slowed to 4.5%, compared to a year earlier.
Hong Kong soaks up HKD 30 billion from interbank market to defend currency peg
Hong Kong Monetary Authority (HKMA) intervened twice in the foreign exchange market on Thursday (July 3) to soak up a total of HKD 29.6 billion from the city's interbank liquidity market, as HKD exchange rate fell toward the weak end of its official trading band.
US GDP grows at 2.8% in Q2 as consumer spending remains strong
US GDP grew at a 2.8% annualized rate in Q2, supported by acceleration in consumer spending, increase in nonresidential fixed investment as well as an upturn in private inventory investment
World Bank seeks to provide further USD 350 million loans to Ukraine
The World Bank is aiming to fast track the process to provide Ukraine an additional USD 350 million loan in the next few days, or as soon as the end of this week, Reuters cited people familiar with the plans.
